Herbert Smith Freehills has advised Aberdeen Asset Management PLC on its acquisition of a 50.1% stake in SVG Advisors, a subsidiary of SVG Capital plc. This business will be combined with Aberdeen’s existing private equity capabilities to create a substantial private equity fund of fund business. The transaction forms part of Aberdeen’s strategy to acquire smaller businesses to enhance and accelerate the Group’s own organic growth. Following the acquisition, Aberdeen’s private equity fund of fund business will have almost £5 billion in assets under management.
Aberdeen has the option to acquire and SVG Capital has the option to sell the remaining 49.9% of the business at any time from the third anniversary of completion. Completion of the transaction is conditional on the receipt of FSA change of control approval.
The Herbert Smith Freehills team was led by partner Nigel Farr assisted by associates Ben Brafman, Martin Griffiths and Kate Baker.
Nigel Farr said: “We are delighted to have advised Aberdeen on this important transaction, which forms part of Aberdeen’s strategy to grow its private equity business.”
The transaction is expected to complete in the first half of 2013. Separately, Aberdeen has also agreed to acquire the US-based Artio Global Investors.
